Data I/O Corporation has closed a $9 million investment from two institutional investors. The financing includes the issuance of 869,840 shares of common stock, convertible debentures with an aggregate principal amount of approximately $6.8 million, and warrants to purchase up to 1,080,000 shares of common stock at an exercise price of $3.00 per share. The convertible debentures bear interest at 4.0% per annum and are convertible into Series B preferred stock, which in turn converts into common stock at an initial price of $2.50 per share. The company intends to use the net proceeds for working capital, general corporate purposes, and potential strategic acquisitions. Ladenburg Thalmann & Co. served as exclusive placement agent, with Benchmark, a StoneX company, as financial advisor.
Data I/O CorporationClosed $9M investment from institutional investors, providing working capital and potential for strategic acquisitions.
Stonex Group Inc